Central Bank extends subsidized loan program Beneficiaries include small businesses and home buyers
The Central Bank (BDL) has extended to the end of 2016 the 60 percent exemption of reserve requirements for certain loans denominated in lira. The exempted funds may be used by banks to extend soft loans for housing or business financing.
The loans that are subject to the extension are those that do not benefit from other interest subsidies by the State. The loans should be used to finance new projects or the expansion of existing projects in the productive sectors (as specified by BDL, such as industry, agriculture, technology, and others). Construction or service sectors do not benefit from these loans.
Reported by Shikrallah Nakhoul